GSK, at December 2018, had stated it has reached a deal with Pfizer to unite their consumer health companies into a new joint venture (JV) with combined sales of about $12.7 billion (roughly $88,900 crore).
The mix entails acquisition of the consumer health care industry of Pfizer along with the combo of GSK and Pfizer consumer healthcare industry to a consumer healthcare venture according to a note, under the management of GSK.
While Pfizer is going to have minority equity interest rates of the remaining 32 percent, GSK will have a majority equity interest of 68 percent in the consumer health care industry.
In consumer health department, GSK is active in research, development, production, and marketing of goods that are usually available without prescription (over-the-counter) for a variety of indications.
On the flip side, Pfizer’s consumer health department develops, markets and manufactures non-prescription medications, vitamins, minerals, and supplements.
GSK had stated that the trade is anticipated to close in the second half 2019, subject to approval and particular authority approvals.
GSK is a British firm headquartered in London, whereas Pfizer is a company with headquarters in New York.